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of <h1>Interim Moratorium Under Insolvency Code Section 96 Halts Debt Actions Upon Application and Covers Firm Partners.</h1> Section 96 of the Insolvency and Bankruptcy Code, 2016, establishes an interim moratorium when an application is filed under sections 94 or 95. This moratorium starts on the application date and ends upon its admission, staying all legal actions concerning debts and preventing creditors from initiating new proceedings. If the application involves a firm, the moratorium applies to all partners as of the application date. Certain transactions may be exempt from these provisions as notified by the Central Government in consultation with financial regulators. These provisions have been in force since December 1, 2019.
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